Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0145%/8h= +15.9% APRpaid last 24h +0.141%

Price spread now: edgeX against Aftermath Perps+0.025%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Aftermath Perps Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropedgeX: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and edgeX is 0.025% dearer against Aftermath Perps than usual: you sell high and buy low: +$2 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aftermath Perps CRCLUSD	94.334	0.0048	pay 0.0006% / 1h	19m 18s	$2K	$20K	5x
Short	edgeX CRCLUSDC	94.358	0.0193	get 0.0096% / 4h	1h 19m	$24K	$267K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Aftermath Perps. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Aftermath PerpsbpFee edgeXbpOrdersPrice spread, now +0.025%Rate

Funding earned: $30.49
Price spread: +0.025% → 0.000%: $2.5
Slippage, 4 orders: no order book: not counted
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $14.98
Costs to cover: 0.180%
Break-even: 3.6 days

Slippage unknown: Aftermath Perps: no order-book sample; edgeX: live order book, 63 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Aftermath Perps no order-book sample	—	—	—	—	—
Sell edgeX live order book, 63 min ago	10.05 bp	25.5 bp −$26	37.9 bp −$379	doesn't fit	doesn't fit

Aftermath Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

CRCL on 34 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate CRCL_USDT	0.0000%	8h	94.350	+0.017%	$7.2M	$27.6M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	94.310	−0.025%	$1.0M	$50K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	94.322	−0.013%	$889K	$2.9M	10x	as long as short
QFEX CRCL-USD	+0.0033%	1h	94.310	−0.025%	$1.4M	$2.8M	10x	as long as short
Vest CRCL-USD-PERP	+0.0046%	1h	94.230	−0.110%	—	$45K	25x	as long as short
Aftermath Perps CRCLUSDlong	+0.0048%	1h	94.334	long leg	$2K	$20K	5x
Polymarket Perps CRCL-USD	+0.0050%	1h	94.283	−0.054%	$365K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	94.286	−0.051%	$47K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.260	−0.078%	$1.1M	$5.9M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0080%	1h	94.100	−0.248%	$936K	$740K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit CRCLUSDT	+0.0080%	8h	94.330	−0.004%	$15.5M	$25.9M	50x	as long as short
Pacifica CRCL	+0.0100%	1h	94.280	−0.057%	$75K	$99K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	94.340	+0.006%	$3.0M	$1.8M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.240	−0.100%	$69K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.330	−0.004%	$940	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	94.312	−0.024%	$4	—	10x	as long as short
Variational Omni CRCL	+0.0132%	8h	94.333	−0.001%	$2.5M	$3.1M	—	as long as short
Paradex CRCL-USD-PERP	+0.0144%	8h	94.299	−0.037%	$773	$740	5x	as long as short
GRVT CRCL_USDT_Perp	+0.0146%	8h	94.367	+0.034%	$59K	$1.2M	10x	as long as short
RISEx CRCL/USDC	+0.0159%	1h	94.345	+0.012%	$430K	$310K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0168%	1h	94.287	−0.050%	$70.7M	$42.8M	10x	as long as short
Extended CRCL_24_5-USD	+0.0184%	1h	94.288	−0.049%	$1.1M	$3.8M	10x	as long as short
Binance CRCLUSDT	+0.0186%	8h	94.316	−0.019%	$108.5M	$388.4M	50x	as long as short
edgeX CRCLUSDCshort	+0.0193%	4h	94.358	+0.025%	$24K	$267K	10x
Aster CRCLUSDT	+0.0206%	8h	94.330	−0.004%	$1.1M	$4.9M	20x	as long as short
OKX CRCL-USDT-SWAP	+0.0209%	8h	94.330	−0.004%	$22.8M	$60.4M	50x	as long as short
Phoenix CRCL	+0.0212%	1h	94.411	+0.082%	$28K	$92K	10x	as long as short
Arcus CRCL-USD	+0.0214%	1h	94.290	−0.047%	$97K	$275K	10x	as long as short
Nado CRCL-PERP	+0.0257%	1h	94.228	−0.112%	$126K	$73K	3x	as long as short
Lighter CRCL	+0.0288%	1h	94.326	−0.008%	$3.0M	$2.3M	10x	as long as short
BloFin CRCL-USDT	+0.0303%	8h	94.350	+0.017%	$1.1M	$580K	20x	as long as short
Bitget CRCLUSDT	+0.0319%	8h	94.350	+0.017%	$16.6M	$35.1M	25x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	94.760	+0.452%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0811%	1h	94.320	−0.015%	$4K	$772K	10x	as long as short